Crypto.com and Coinbase are international cryptocurrency trading platforms offering various products. They provide affordable ways to buy, sell, or transfer crypto tokens. But unlike Coinbase, which focuses on beginner education, Crypto.com has very few materials on beginner education. Instead, Crypto.com focuses on creating more products, such as Visa Cards, and adding ways for investors to earn from crypto.
In this article, we will explore the differences between Crypto.com and Coinbase in order to help you choose the best option for your needs.
At-a-Glance Comparison
| Criteria | Coinbase | Crypto.com |
| Fees | Coinbase applies maker fees that range from 0.00% to 0.40% and taker fees ranging from 0.05% to 0.60%. Additional fees may apply depending on the payment method. | Crypto.com has a maker fee ranging from 0% to 0.075% and a taker fee between 0.05% to 0.075%. |
| Supported Currencies | 200+ | 250+ |
| Security | Coinbase has a strong security track record and offers insurance protection for digital assets held on its platform. | Crypto.com has a multi-tier security architecture that includes secure storage, two-factor authentication, and insurance protection for digital assets. |
| Features | Coinbase offers a range of features including a mobile app, recurring purchases, and the ability to earn interest on certain cryptocurrencies. | Crypto.com offers a range of features including a mobile app, a Visa debit card that can be used to spend cryptocurrency, and the ability to earn interest on certain cryptocurrencies. |
| Wallet | Coinbase provides a hosted wallet service for customers to store their cryptocurrencies. | Crypto.com provides a hosted wallet service for customers to store their cryptocurrencies. |
| Usability | Coinbase has a user-friendly interface that is easy to navigate. | Crypto.com has a user-friendly interface that is easy to navigate. |
About Crypto.com
Crypto.com is an international cryptocurrency platform founded in 2016 and has quickly become a popular hub for cryptocurrency enthusiasts.
Crypto.com was initially founded as “Monaco” in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. The company was later renamed Crypto.com in 2018 after purchasing a domain valued at $5-10 million from cryptography researcher and professor Matt Blaze.
Crypto.com ecosystem includes services such as the Crypto.com App, Crypto.com Exchange, Crypto.com DeFi swap and Wallet, Crypto.com Pay, Crypto Earn, Crypto Credit, and more.
The company works with regulatory institutions worldwide and strives to provide a convenient way for users to buy, sell, trade, and spend cryptocurrencies. With the Crypto.com App, users can purchase over 100 top cryptocurrencies at actual cost, earn high interest on their crypto, manage their Crypto.com Visa Card, and make crypto payments easily, among other features.
Foris DAX Asia, a Singapore-based company and a subsidiary of Foris DAX MT (Malta) Limited, operates the platform.
About Coinbase
Coinbase is a crypto exchange founded in 2012 by Brian Armstrong and Fred Ehrsam that has grown to become one of the biggest crypto exchanges. With over 4,500 employees worldwide, Coinbase supports dozens of unique cryptocurrencies and operates with users in more than 100 countries. Its customers trade approximately $145 billion per quarter, with Coinbase managing a robust cryptocurrency ecosystem supporting 13,000 financial institutions.
Coinbase runs two trading platforms and a standalone cryptocurrency wallet service, making starting and managing a cryptocurrency portfolio or trading plan easy. It has a very accessible user interface, making it particularly suitable for those who have just started with crypto. With meager fees, users can buy and sell cryptocurrencies and deposit using debit cards and bank transfers. Coinbase is also a fully regulated crypto exchange, ensuring a reliable and trustworthy experience for its users.
Crypto.com vs Coinbase: Fees
When you place an order on Coinbase, the fees are calculated based on several factors, such as location, selected payment method, order size, and market conditions.
Crypto.com does not charge fees when converting currencies within their wallets, whereas Coinbase uses a 1% conversion fee. For debit or credit card transactions, Crypto.com charges 2.99%, while Coinbase does not offer this payment method. Both platforms have free options for ACH transfers, but Crypto.com has a minimum transfer requirement of $20. Wire transfers are free on Crypto.com but require a minimum deposit of $1,000, while Coinbase charges $10 for deposits and $25 for withdrawals.
Coinbase applies a spread in the price when you use a simple trade to buy or sell cryptocurrencies and in the exchange rate when you convert cryptocurrencies. However, the advanced trade option on Coinbase does not include any spread because it interacts directly with the order book.
Coinbase applies maker fees that range from 0.00% to 0.40% and taker fees ranging from 0.05% to 0.60%. However, for most customers who fall into the category of the highest taker fee, Crypto.com is a more affordable option.
Crypto.com has a maker fee ranging from 0% to 0.075% and a taker fee between 0.05% to 0.075%. Crypto.com users can pay lower fees by trading more frequently with a volume-based trading fee structure or staking CRO.
Both Coinbase and Crypto.com have partnered with Visa to offer credit and debit card options. The fees charged by both companies vary based on the number of ATM withdrawals and purchases.
Crypto.com vs Coinbase: Supported Currencies
Both Crypto.com and Coinbase have a wide selection of supported currencies. Crypto.com, for example, supports over 250 cryptocurrencies and over 20 different fiat currencies, while Coinbase supports over 200. cryptocurrencies.
In addition, Crypto.com allows investors to access the top ten tokens in the market cap, whereas Coinbase gives access to all top coins besides XRP and Binance (BNB).
Examples of currencies supported by crypto.com are:
- Bitcoin (BTC);
- Ethereum (ETH);
- Tether (USDT);
- Binance (BNB);
- Cardano (ADA);
- Polygon (MATIC).
In other words, you will find all popular cryptocurrencies on both platforms, including Ethereum (ETH), Bitcoin (BTC), Cardano (ADA), etc. Both also offer major stablecoins, such as USD Coin and Tether. However, the number of currencies supported varies from state to state, with some states having additional restrictions.
Coinbase does not support Binance (BNB) either since it is a separate blockchain that cannot integrate with the Coinbase platform. You risk losing your unsupported coins if you send them to your Coinbase account; they will not reach the account.
Although Coinbase supports almost as many currencies as Crypto.com, its inability to support the few it does not is a limiting factor. Also, the fact that sending unsupported coins to your Coinbase wallet might result in you losing them makes it even worse. Comparing the two, Crypto.com is the most suitable for anyone planning to diversify their investment portfolio.
Crypto.com vs Coinbase: Security
When comparing Crypto.com vs. Coinbase on security bases, you will notice that both employ the industry’s best practices. That said, their security terms differ in a few aspects.
For example, unlike Coinbase, which covers 98% of assets stored in a hot wallet, Crypto.com only covers assets stored in cold storage; in short, it doesn’t have hot storage.
Besides this difference, they offer bug bounty and multi-factor authentication with additional security measures like background checks on employees and various compliance and security certifications.
Besides, both provide:
- Insurance on USD balances;
- Federal Deposit Insurance Corporation (FDIC);
- Insurance against theft or damage.
Crypto.com vs Coinbase: Main Features
In addition to offering users a wide selection of cryptocurrencies, Crypto.com and Coinbase platforms have more similar features, including:
- Both have mobile apps that are compatible with Android and iOS devices;
- Volume discounts;
- Non-custodial crypto wallets that allow users to control the private key;
- A staking option that allows users to earn interest/reward;
- Additional trading features such as limit.
Although the two platforms share various features, Coinbase is more beginner friendly than Crypto.com. Unlike Crypto.com, which provides users with additional products such as Visa cards, Coinbase focuses more on delivering new crypto investors with learning materials to encourage them to invest wisely.
Crypto.com vs Coinbase: Wallet
Both Crypto.com and Coinbase have highly rated decentralized crypto wallets. The decentralized wallets are non-custodial and are separate from the custodial wallets on the trading platforms. Users control their keys and account security, which helps reduce hacking risks and frozen accounts.
Crypto.com and Coinbase crypto wallets also support a wide selection of crypto tokens. However, Coinbase’s cryptocurrency selection could be broader, but it is yet to support big tokens like BCH, ETC, XLM, and XRP.
Crypto.com vs Coinbase: Usability
Although both Crypto.com and Coinbase offer convenient mobile apps and websites for trading cryptocurrencies, they differ in their trading platforms. While Coinbase provides a straightforward interface that is easy to navigate, Crypto.com offers a plethora of products that may overwhelm inexperienced users. Therefore, novice cryptocurrency investors may find it more convenient to trade on Coinbase until they become comfortable with the industry terminologies and the various tradable coins.
It is worth noting that both platforms are available in more than a hundred countries, including the US, Canada, and Singapore. However, it is unfortunate that New York residents cannot access Crypto.com, and Hawaii residents cannot access Coinbase.
Despite these limitations, Coinbase outshines Crypto.com by being accessible in three African countries. This demonstrates Coinbase’s commitment to offering its services to a vast audience, giving more people access to the benefits of cryptocurrency trading.
FAQ
What is Crypto.com?
Crypto.com is a Singapore-based cryptocurrency exchange platform that supports trading, staking, investing, and digital wallet, among other products. It supports over 250 crypto coins while offering reasonable fees and discounts to large-volume investors or its native coin users (CRO). It is considered the best trading platform due to its transparent and competitive transaction fees. However, its trading charges discount can be hard to navigate.
What is Coinbase?
Coinbase is a US-founded cryptocurrency exchange platform that allows users to buy, sell, transfer, or store popular crypto coins such as Bitcoin (BTC), Ethereum (ETH), and Solana. But unlike Crypto.com, Coinbase does not support various cryptocurrencies due to their low demand, including BCH, ETC, XRP, and XLM. It also doesn’t support BNB because its separate blockchain cannot integrate with its platform.
Are Crypto.com and Coinbase Safe?
Crypto.com and Coinbase are considered safe for U.S.-based residents as they employ industry-standard or above security measures. Although Crypto.com is based in Singapore, it gives equal importance to security as Coinbase. Both exchanges are reputable and employ bug bounty hunters to identify any potential security vulnerabilities.
Who Should Use Crypto.com vs. Coinbase?
For beginners, Coinbase could be a suitable option as it has a user-friendly interface accessible through a web browser and limited features that minimize confusion. On the other hand, experienced users who prioritize more advanced features and a mobile-first approach might prefer Crypto.com, which is accessible through a smartphone app.
Crypto.com vs. Coinbase: Conclusion
Both Coinbase and Crypto.com have their better sides. For example, Coinbase is more beginner friendly for its numerous training materials, ease to use, and wide selection of tradable coins.
But while Crypto.com is not as user-friendly as Coinbase, it offers a broader selection of tradable coins at lower charges. It also has additional features, such as a visa card allowing users to pay for typical transactions using crypto coins.
* The information in this article and the links provided are for general information purposes only and should not constitute any financial or investment advice. We advise you to do your own research or consult a professional before making financial decisions. Please acknowledge that we are not responsible for any loss caused by any information present on this website.
Source: https://coindoo.com/crypto-com-vs-coinbase/